VersaBank Announces Plans For Digital Currency

February 25, 2021

VersaBank, which works in B2B digital banking and cybersecurity, has plans to launch a new encryption-based digital currency, according to a press release.

The currency will be represented one-to-one with the Canadian dollar and will be known as VCAD, the release stated. It will be the first digital currency to represent a fiat currency, alongside being the first one to be issued and backed by deposits of a North American bank.

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